187 Note 29.17 Dividend on equity shares Dividend on equity shares declared and paid during the year: (` cr) Particulars As at March 31, 2023 As at March 31, 2022 Final dividend of ` 25.00 per share for the year 2021-22 (2020-21: ` 20.00) 73.78 59.17 Interim dividend of ` 7.50 per share for the year 2022-23 22.14 - 95.92 59.17 Note: The Company declares and pays dividend in Indian rupees. Companies are required to pay | distribute dividend after deducting applicable withholding income taxes. The remittance of dividends outside India is governed by Indian law on foreign exchange and is also subject to withholding tax at applicable rates. Note 29.18 Buy-back of shares The Board of Directors in its meeting held on March 25, 2022, had approved a proposal to buy-back fully paid-up equity shares of face value of ` 10 each of the Company. The buy-back of equity shares through the open market stock exchange route commenced on April 07, 2022, and it was completed on May 09, 2022. The Company bought back and extinguished a total of 73,296 equity shares at an average buy-back price of ` 9,536.31 per equity share, constituting 0.25% of the pre buy-back paid-up equity share capital of the Company. The buy-back resulted in a cash outflow of ` 69.90 cr (excluding transaction costs). The Company purchased the said shares out of its free reserves and created capital redemption reserve of ` 0.08 cr equal to the nominal value of the shares bought back as an appropriation from general reserve in accordance with Section 69 of the Companies Act, 2013. Note 29.19 Ratios No. Ratio UoM Formula (Refer below table for numerator and denominator details) As at March 31, 2023 As at March 31, 2022 Variance % Reason for variance 01. Current ratio Times A ÷ B 2.60 2.32 11.80% Below threshold of 25% 02. Debt-equity ratio Times I ÷ H 0.00 0.02 (100%) Negligible debt, Company is effectively operating at zero debt. 03. Debt service coverage ratio Times Q ÷ (J + M) 95.24 9.98 854.68% Negligible interest cost, Company is effectively operating at zero debt. 04. Return on equity ratio % P ÷ average of H 12% 15% (18.08%) Below threshold of 25% 05. Inventory turnover ratio Times L ÷ average of D 7.41 8.14 (8.88%) Below threshold of 25% 06. Trade receivables turnover ratio Times L ÷ average of E 5.12 5.56 (7.94%) Below threshold of 25% 07. Trade payables turnover ratio Times (R+S) ÷ average of G 7.27 6.94 4.71% Below threshold of 25% 08. Net capital turnover ratio Times L ÷ average of C 4.57 4.92 (7.09%) Below threshold of 25% 09. Net profit ratio % P ÷ L 11.05% 12.33% (10.40%) Below threshold of 25% 10. Return on capital employed % (M + O) ÷ average of K 19.00% 23.57% (19.38%) Below threshold of 25% 11. Return on investment % (M + O) ÷ average of F 13.58% 16.24% (16.34%) Below threshold of 25%
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